Good points Saracen, Hotrods and Shooshka.
Imo, this is for progressing Sandpiper, and will go a long way towards the DFS and Capex spend on Sandpiper, along with the payment from NMDC.
The terms of the deal are excellent, at MAK's option on the timing. With this funding secured, NMDC payment, return of BCD loan MAK will have have around $60m available, taking into account the projected spend of $4.3m for the December quarter.
Market may not like the prospects of a raising, but we will need it of course, and MAK have come up with a great deal that they can exercise when the time is right.
Good points Saracen, Hotrods and Shooshka. Imo, this is for...
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